This topic contains a solution. Click here to go to the answer

Author Question: A current ratio of 3.50 means a. There is 3.50 of current assets available to pay every dollar of ... (Read 97 times)

xroflmao

  • Hero Member
  • *****
  • Posts: 515
A current ratio of 3.50 means
 a. There is 3.50 of current assets available to pay every dollar of current debt.
  b. There is 3.50 available to pay for all debt.
  c. There is 3.50 of current liabilities that need to be paid immediately.
  d. Nothing meaningful can be determined from this information.

Question 2

Hannah County has a total fund balance in the General Fund as of the end of the year of 1,565,000 . Assume the following:
   The budget officer decided to set aside 405,000 for new road maintenance.
 
  The county's governing board had previously given her this authority.
   Unspent restricted drug enforcement grant proceeds of 75,000
   The county's governing board passed a resolution to use 500,000 for construction of a fleet maintenance facility.
  In the year-end financial statements, Hannah County would report unassigned fund balance and assigned fund balance, respectively, in the General Fund as
  A. 1,085,000 unassigned fund balance; 405,000 assigned fund balance.
  B. 660,000 unassigned fund balance; 905,000 assigned fund balance.
  C. 585,000 unassigned fund balance; 405,000 assigned fund balance.
  D. 495,000 unassigned fund balance; 480,000 assigned fund balance.



Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

yotaSR5

  • Sr. Member
  • ****
  • Posts: 331
Answer to Question 1

A

Answer to Question 2

C




xroflmao

  • Member
  • Posts: 515
Reply 2 on: Jul 6, 2018
Wow, this really help


Perkypinki

  • Member
  • Posts: 339
Reply 3 on: Yesterday
Great answer, keep it coming :)

 

Did you know?

According to the American College of Allergy, Asthma & Immunology, more than 50 million Americans have some kind of food allergy. Food allergies affect between 4 and 6% of children, and 4% of adults, according to the CDC. The most common food allergies include shellfish, peanuts, walnuts, fish, eggs, milk, and soy.

Did you know?

The calories found in one piece of cherry cheesecake could light a 60-watt light bulb for 1.5 hours.

Did you know?

The effects of organophosphate poisoning are referred to by using the abbreviations “SLUD” or “SLUDGE,” It stands for: salivation, lacrimation, urination, defecation, GI upset, and emesis.

Did you know?

Urine turns bright yellow if larger than normal amounts of certain substances are consumed; one of these substances is asparagus.

Did you know?

About 100 new prescription or over-the-counter drugs come into the U.S. market every year.

For a complete list of videos, visit our video library